https://ift.tt/1u3RpCX Million Surplus Australians Own Cryptocurrencies as per Recent Survey

• Participants over 35 were less inclined to invest in digital assets.
• Australians between 18 and 24 are more willing to invest in cryptocurrencies.

Cryptocurrency adoption and investment across the globe are on the rise, with many countries legalizing crypto in recent times. Over one million Australians currently possess cryptocurrencies, including Bitcoin, Ethereum, Ripple, Cardano, Dogecoin, and Shiba Inu, according to a report by Australian research company Roy Morgan. 5 percent of Australians over the age of 18 currently possess at least one cryptocurrency, according to a February poll.

When it comes to investing in cryptocurrencies, more than two-thirds (742,000) of Australian crypto investors are males, compared to just over a third (332,000) of women. This group was the most likely to own cryptocurrencies, with one in ten of those under 35.

Highest Investment by Participants Over 50 

Participants over 35 were less inclined to invest in digital assets, but they still accounted for 40% of the entire investor market, with 296,000 aged 35-49 (28%) and 138,000 aged 50 and older (13 percent).

Even though they are less inclined to participate in cryptocurrencies, Australians over 35 account for a sizable portion of the country’s crypto industry in terms of average investment size. Participants over 50 had the highest average crypto investments, at roughly AUD 56,000 on average. An estimated AUD 7.6 billion is now held by those 50 and over, making them the largest cohort in terms of total crypto investment value and 35% of the whole market.

Australians between 18 and 24 are more willing to invest in cryptocurrencies, but they only possess an average of AUD 2,600, which amounts to barely 3% of the overall market value. Both 25-34 and 35-49-year-olds in Australia had market shares of roughly AUD 18,200, while those in the latter category had a market share of AUD 21,600. Investments made by people between the ages of 25 and 34 accounted for 32 percent of the total, while those between 35 and 49 accounted for 30 percent.